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FINANCIAL NEWS
Egypt to allocate USD0.3bn for New El Alamein development
10 Jul 2016
(MENAFN) Egypt estimated that the investment needed to develop New El Alamein city in 2016/17 would amount to almost USD0.34bn.
Additionally, the first phase of the city project will be on 8,000 feddans, which will include the tourist area, part of the downtown area and the city’s residential area.
Furthermore, the government also allocated USD59.41bn from the state budget in order to implement development projects and infrastructure like roads.
On the other hand, the country will outline the first primary plan of the first phase and establish a drinking water desalination plant.
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